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Solana Company begins constructing rapid infrastructure to ready SOL for upcoming ‘super cycle’
The initiative aims to address institutional interest throughout the Asia-Pacific region, providing DeFi tools, liquid staking, and execution services tailored for traditional finance entities entering the cryptocurrency sector.
(Amjith S/Unsplash/Modified by CoinDesk)
Key Points:
- Solana Company plans to construct the “Pacific Backbone,” a low-latency infrastructure network linking Seoul, Tokyo, Singapore, and Hong Kong to facilitate staking, validation, and trading services.
- The initiative focuses on institutional interest within the Asia-Pacific region, providing DeFi tools, liquid staking, and execution services tailored for traditional finance firms entering the cryptocurrency market.
- The project is set to commence immediately, with performance enhancements and product releases anticipated within 12 to 18 months.
Solana Company (HSDT) announced its intention to establish a high-speed infrastructure network throughout the Asia-Pacific area to foster the advancement of the Solana blockchain and broaden its revenue sources.
This initiative, referred to as the “Pacific Backbone,” will connect Seoul, Tokyo, Singapore, and Hong Kong via a low-latency framework aimed at supporting staking, validation, and trading services on the Solana network.
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The initiative aims to meet institutional demand in the region, recognized as a leading area for cryptocurrency adoption, cross-border payments, and digital asset innovation.
The development is designed to enhance the accessibility and reliability of Solana’s infrastructure for market makers, high-frequency traders, and financial institutions, as noted in a press release.
The company stated that the project will commence immediately, with performance optimization and additional product launches expected within the next 12 to 18 months. These will include DeFi tools, liquid staking, automated market makers, and execution services specifically designed for traditional finance firms entering the cryptocurrency realm.
Joseph Chee, CEO of Solana Company, mentioned that the expansion is intended to prepare for what he termed Solana’s “next super cycle.”
The objective is to diminish dependency on external service providers, minimize latency, and establish a compliant infrastructure that aligns with institutional requirements in regulated environments.
According to the company, Solana processes over 3,500 transactions per second and supports millions of active wallets daily. Solana Company currently ranks as the second-largest Solana treasury firm, holding 2.3 million SOL, equivalent to more than $180 million, in its treasury.
In today’s trading session, shares of Solana Company have declined by 13.3% to $1.76, amidst a broader downturn in the cryptocurrency market. Solana has also experienced a nearly 6% decrease in the last 24 hours, while BTC has fallen by over 4%.
CoinDesk has reached out to Solana Company for a response but has not received a reply at the time of publication.
